More magic from Steve Wynn — slightly delayed due to our summer escapades — on his 2Q09 conference call.

The Administration is more of a problem than they are of a help usually, if you read the headlines. Everyone is frightened to death about runaway inflation if these deficits are allowed to take place. The good news is the Senate seems to be slowing it down.
But we can’t see where it’s good for business to have that debt as a percentage of GDP go from 30% to 60% or 70%. That sort of makes us an emerging country. But maybe wiser heads will prevail and some of the things that are on the table, these amazing misunderstandings of how the system works, will get slowed down in Washington.
Right now, we are more afraid of Washington that we are the economy. We’ve got people on our backs saying don’t go to Las Vegas, which is preposterous. And people are beginning to ignore this kind of bombastic rhetoric from the White House and from the Administration, and that is encouraging.

Translation: Politicians suck and are doing their best to destroy American business.

My own feeling is the government of Macau will protect and so will the central government of Beijing and the regional government in Juhai at Guangdong province, at Guangzhou. The government will do a very enlightened and thoughtful job of protecting the interest of the citizens and the business enterprises that support the health of those businesses.
In America, we have a government that has decided that anybody that creates jobs must be bad, that the job creators should have a target painted on their back. What a remarkable misunderstanding of how the United States of America works. I tell you that that is not the case in Macau, and it’s not the case in the People’s Republic of China. And maybe we could all learn a lesson by watching what happens there.

Translation: I currently prefer to do business in a People’s Republic than the USA.

I think that the Encore tower when it debuts in a few months is going to give people a really clear insight as to what we will do next, and the level at which we will be operating in China. It is a great place to do business — really wonderful. None of the anxiety that we have at the present time in America.
I have been self insuring my employees, up to 40,000 of them, for 40 years. And everything I am reading about Obamacare is a train wreck. And I say that as an insurer — a train wreck.

Translation: No, seriously, I prefer the communist country.

We put Beyonce in here on the toughest weekend other than December 19th of the year. We did it on purpose. This is — conventions and stuff like that start the first part of August. We picked a real trough in the traditional revenue seasons. And so she is a special event as opposed to an ongoing entertainment event. And a remarkable, and as I said, lovely, lovely lady.
…
I should tell you that we own the life rights to the Bee Gees. And we’re working on a show about that. Garth Brooks was here as a friend. He didn’t charge. That was just a buddy singing. As a matter of fact, Garth is going to be here tonight to watch Beyonce with his wife, with Trisha Yearwood, and his three daughters — going to sit with me.
And I think that Garth Brooks is a stay-at-home dad, and take his kids to school every morning — he really does actually take his children to school every single morning — an extraordinary fellow, really extraordinary.

Translation: Please allow me the luxury of dropping a few names to remind you that I am richer and having a more interesting life than you.

Long or Short?

At Long or Short Capital LLC, we leverage our superior intellect and extensive investing experience to recommend explicit Long or Short positions and related abstract trades, which may or may not be possible with real world financial derivatives. We use science to improve the lives of the rich.More About LoS